February 14, 2025. For Immediate Release
After more than a decade of a successful partnership, the Ntityix Development Corporation (NDC) has taken over its partners' interest in the coveted Okanagan Lake Shopping Centre. The Westbank First Nation (WFN) company will now be responsible for the entire operation running the complex, a move that will benefit the surrounding communities.
"It's a huge step for us," said Mic Werstuik, NDC Chief Executive Officer. “Westbank First Nation, and the corporation (NDC), hasn't been in a position where they totally, 100 per cent owned a property of this magnitude.”
Located on 4.11 hectares of land along Hwy 97, the Okanagan Lake Shopping Centre features 127,000 square feet of leased retail space. It was completed in 2012. The shopping centre was the result of a joint venture development partnership between Ntityix Development LP (WFN), Churchill International Property Corporation and PDG Investments. Now worth approximately $45 million, nearly all of the units are leased to a diverse group of tenants that attract customers day and night.
“It's a huge step for us. Within the Ntityix portfolio, this is almost going to double our assets,” added Werstuik. “It's significant for us as an organization. Once we take this step, we're going to move forward on other properties and other opportunities because we'll have the asset base and the comfort and the experience to deal with significant projects like this.”
NDC acquiring sole ownership of the shopping centre will not only open new doors for the Westbank First Nation company, but it will see the creation of jobs and profits that will stay within the community.
“If there's additional profit that comes out of having an asset like that – that goes back into the community, which means education for young people, it means delivering on services like healthcare and other things that all ages of people need,” said Blake Scott, NDC board chair. “I really think that other nations across the country, their chief and councils, are looking at what Westbank is doing, and that could really be an inspiration for helping others create meaningful opportunities for their membership.”
The Ntityix Development Corporation thanks its partners for making this project a viable long-term opportunity for the community.